Liverpool's squad is made up of 62 players. Photograph: Phil Noble/Reuters

The number of footballers on the books of Premier League clubs will be drastically reduced if radical plans to overhaul squad sizes are approved.

League rules could be dramatically redrawn early next month, with a new limit on the size of squads for a -season – perhaps as low as 25 players, but more likely around 30. If the new rule is agreed, clubs would have to stick with those players regardless of injuries and suspensions until, at least, the January transfer window.

The news, welcomed by Uefa, comes following The Observer's recent report into the "Anfield 62", the number of players currently on the books at Liverpool. Arsenal have 59, Manchester United 51 and Chelsea 46. The new rule – which needs support from 14 of the 20 clubs to be passed – would mean the "big four" clubs picking from the same number of players as, say, Bolton, who have the -Premier League's smallest squad of 27. The average squad size is just over 40.

The idea won immediate support from Bolton. Phil Gartside, the club's chairman, said he would be firmly behind the introduction of a squad-limit rule. "Yeah, we'd go for that," Gartside said of the plan, which has been proposed by the Premier League. "It's a good idea. And my manager thinks it's a good idea," he added, after discussing it directly with Gary Megson. Asked if there was a general feeling among some clubs that it would be a good change to the rules, Gartside said: "I've no idea, it's not been discussed." But he pledged to canvass support for the proposal from his fellow chairmen.

The plan comes in tandem with the Premier League's promise to adopt, from the 2010-11 season, -quotas of "homegrown" players – those who have been brought through a club's youth system. Talks are ongoing on whether the quota should apply to a matchday squad or a first-team squad named for the whole season. David Taylor, chief executive of Uefa, the European governing body who have taken the lead in adopting limits on squad sizes for their own competitions, told Observer Sport that his organisation would back the plans. "I'm very pleased to hear that not only are -they -discussing these things, but the likelihood is they may well adopt one or two ideas. It would be beneficial for the -English game in general, so I'm very keen to see what happens."

Uefa do not always enjoy smooth relations with the Premier League. The president, Michel Platini, has been a consistent critic of the level of debt accumulated by clubs.

The Premier League confirmed that during their summer meeting in the first week of June a day will be spent discussing how best to implement the "home-grown" player quotas. Experts in the field have been invited to offer advice. Clubs might have to select as many as eight "home-grown" players – those who, under Uefa's definition, have trained with a club for three successive years between the ages of 15 and 21.

Taylor said he would be happy to offer advice, though the Premier League have not invited any Uefa representation to next month's meeting.

"They are big enough themselves to come to their own conclusions," said Taylor. "Richard Scudamore [the -Premier League's chief executive] is in touch from time to time, so we talk. It's up to them."

A Premier League spokesperson said last night: "The 20 Premier League clubs will -discuss various home-grown player systems at their summer meeting and decisions will flow from that."

If the clubs do adopt the squad limits the Premier League will, according to Taylor, become the first in Europe to do so. "I really do hope they do it, because I really think it's in the best interests of the game."